Digital Behavior Tracker Heap Raises $110m

US-based insight automation specialist Heap has raised $110m in a Series D round of funding, which values the company at $960m. The investment will be used to scale the firm's global operations, and accelerate R&D for its digital analytics platform.

San Francisco-based Heap automatically captures customer app and web site user interactions, without requiring tracking plans, tracking code or tags. Real-time reports help clients understand what users are doing, while generating up-to-the-minute usage metrics. In June, the company launched Heap Illuminate, a suite of capabilities that automatically uncover insights about user behavior on customers' web sites and digital products; and in October, it introduced Journey Maps, which reveals unseen user behavior and then suggests actions to improve the digital experience.

New funding has been led by Sixth Street Growth, with participation from the Growth Equity business within Goldman Sachs Asset Management, NewView Capital, Menlo Ventures and a number of others. Heap's total capital raised stands at $205m to date.

CEO Ken Fine (pictured) comments: 'McKinsey research notes that while there are 100 million hits on agile transformation, two-thirds of organizations that are looking to become more agile are still treading water and achieving little or no business impact. Our new funding will help us further innovate to foster the significant business outcomes that McKinsey says can be achieved, including '30 percent gains in efficiency, customer satisfaction, employee engagement, and operational performance'.

Web site: www.heap.io .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.